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Standard Chartered Bank Nigeria Limited has announced that it has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of N200 billion for national commercial banks—well ahead of the March 2026 deadline.
The bank made this known in a statement released on Monday, affirming its strong financial position and continued commitment to the Nigerian market.
In March 2024, the CBN introduced new recapitalisation directives aimed at strengthening the stability and resilience of Nigeria’s banking sector. The revised framework mandated N500 billion for international banks, N200 billion for national banks, and N50 billion for both regional and merchant banks. For non-interest institutions, national players were required to raise N20 billion, while regional operators were given a N10 billion target.
Stakeholders were given a two-year window, until March 2026, to comply. At the last Monetary Policy Committee meeting, CBN Governor Olayemi Cardoso revealed that 14 banks had already met the new capital benchmarks.
Standard Chartered noted that reaching the recapitalisation goal ahead of schedule underscores its financial strength, confidence in the Nigerian economy, and long-term strategy to support sustainable growth across critical sectors of the economy.
“Delivering on the CBN’s recapitalisation directive ahead of schedule underscores our unwavering confidence in the resilience and potential of the Nigerian economy,” said Dalu Ajene, Chief Executive Officer of Standard Chartered Bank Nigeria Limited. “This milestone reaffirms our enduring partnership with Nigeria and our commitment to driving sustainable economic transformation.”
Executive Director and Chief Financial Officer Dayo Omolokun added that the successful recapitalisation reinforces the bank’s strategic importance within the Standard Chartered Group and its continued investment in Nigeria’s economic future.
“Since re-establishing as a wholly owned subsidiary in 1999, Standard Chartered has provided structured financial solutions worth billions of dollars. This new capital strengthens our ability to deliver innovative cross-border services and deepen our wealth management capabilities,” Omolokun said.
The bank emphasised that its enhanced capital base will further enable it to contribute to Nigeria’s goal of achieving a $1 trillion economy by 2031, as envisioned by President Bola Tinubu’s administration.
With over 26 years of continuous operation in Nigeria, Standard Chartered Bank Nigeria Limited continues to combine global expertise with local insight to deliver innovative banking solutions that empower individuals, businesses, and communities—solidifying its position as a key player in Nigeria’s evolving financial landscape.
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